Excellent, congratulations to Crate Entertainment!
I can't wait for the expansion to come out, I'm sure the new zones will look awesome. Their art team really started to get their act together in the later zones, and they're still slowly revamping the early alpha/beta era zones.
As far as loot, yeah, Grim Dawn is definitely a lower default drop rate than D3, of course. Legendaries(Purple) don't even start dropping until your character is level 50, or from the last boss quest in the game in normal. Drop rates do increase in Elite and Ultimate difficulty, as well as Veteran(modifier for Normal) for that matter, but you will never be drowning in Legendaries like D3.
I've got around 450 hours into Grim Dawn according to Steam, but quite a bit of that was in the earlier level capped beta days. I'm still finding blue or purple drops that make me want to build an entire character around them though...right now I have around 7 characters in the 50s or higher because of that.
People on the forums say the legendary drop rate over time is better playing the Crucible(arena) mode, but that kinda bores me. The main game's quest chains and maps are more fun to me, and even solo you will eventually get leveled up and outfitted in good greens, blues and some purple Legendaries.